Jamie Oliver set to buy back Jamie's Italian

Celebrity chef Jamie Oliver has stepped in to salvage the reputation of his eponymous Australian restaurant chain by buying back the business from the failed Keystone Group.

Receivers for Keystone, Ferrier Hodgson, today named the Jamie Oliver Group as the preferred bidder for the chain, which includes Jamie’s Italian on William Street in Perth. The restaurant has continued to trade through its parent's administration.

Jamie Oliver a cook with a conscience

Receiver Morgan Kelly said it was an ideal outcome for the Australian Jamie’s Italian franchises to return to the ownership and management of its parent.

“Jamie Oliver taking control over the restaurants is an exciting outcome for the restaurant staff and patrons,” he said.

“The Australian Jamie’s Italian franchises can now go from strength to strength under the direct management of the Jamie Oliver Group.”

Jamie Oliver said the Australian franchise, which included some of the best performing Jamie’s Italian restaurants worldwide, were put up for sale when the franchise partner, Keystone Group, went into receivership over the summer.

“This was in no way a reflection on the performance or success of the restaurants,” he said.

“The best news that could come out of the situation I've been placed in is for me to buy back the Jamie's Italian franchise.

“I believe in it and our Australian teams 100 per cent.

“This will be a really exciting moment for me personally, and I know the guys will be ecstatic to be back in-house.

“It will allow us to invest even more time and money in people and restaurants, celebrate great Aussie produce and be even more creative.”